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AA predicates more relief at the pumps for March

16.02.2018

The Automobile Association (AA) has predicted more good news for motorists with yet another fuel drop on the cards for the March.

Commenting on unaudited data released by the Central Energy Fund on Friday (February 16th), the AA said the ongoing strengthening of the Rand against the US Dollar, helped in part by the resignation by Jacob Zuma as president, could see a drop of 28 cents a litre in the price of petrol, 36 cents for diesel and 21 cents for illuminated paraffin.

It however remarked that, "The state is facing enormous losses due to tax under-collections, mismanagement at state-owned enterprises, and a rising debt burden The country is also on notice for a further credit rating downgrade, which might be triggered after next week's Budget if the numbers come in behind expectations. We advise motorists to be extremely prudent and not bank on ongoing fuel price declines in the medium term".

Earlier today (11h20), the national currency had fallen back to just above the R12 mark against the Dollar at R11.98, with Brent Crude Oil trading at $63.60 a barrel.

Used cars in Namibia

Article written by Autodealer
16.02.2018
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